Finance Minister Nirmala Sitharaman virtually attends the 7th Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank

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7th Annual Meeting of Board of Governors

Union Minister of Finance & Corporate Affairs Nirmala Sitharaman attended the 7th Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) via video conference from New Delhi on 26 October 2022.

Every year at the Annual Meeting, the Board of Governors meets to take key decisions on important matters relating to AIIB, and its future vision. 

India is a Founding Member and the second largest shareholder in AIIB. India also has the largest project portfolio within AIIB. 

The theme of this year’s Annual Meeting was Sustainable Infrastructure toward a Connected World”.

Asian Infrastructure Investment Bank (AIIB) 

  • It is a multilateral development bank which was set up in 2016. 
  • Its area of operation is in Asia and it provides loans to build Infrastructure of tomorrow -green infrastructure with sustainability, innovation and connectivity at its core.
  • However its members are from around the world . At present it has 104 member countries.
  • China is the majority shareholder of the bank and India is the second largest shareholder of the bank 
  • The United States and Japan are not the members of the bank 
  • AIIB has given maximum loans to India 
  • It will set up its first overseas office in Abu Dhabi, United Arab Emirates (UAE).
  • Urjit Patel of India is one of the five Vice-President of AIIB.

Current President of the Bank: Jin Liqun of China.

Headquarters: Beijing, China 

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